In Phoenix, pension reform was needed, and our city is getting it done.

We found a balanced solution to a system that didn't work anymore for city government, employees or taxpayers. Phoenix pension reform will save the city a large chunk of money, $600 million, to invest in our highest priorities -- public safety, education, libraries, roads, parks, sustainability and the arts -- and we will still be competitive in the market of recruiting and retaining great people to work for our city.

Most importantly, the plan is fair to both residents and employees. A true, 50/50 partnership with city employees will decrease the burden on the city, and thus, taxpayers. It will ensure that employees and the city are acting equally responsible when it comes to pensions.

As a bonus, it will contribute to Phoenix's sound fiscal management by adding another reason for Phoenix's bond rating to remain at AAA status.

But that's not why Phoenix residents should vote for pension reform on their March ballots.

The spirit of Phoenix is to come together as a community when the going gets rough. All of us have seen the devastating effects with which the recession hit us in the last four years. It touched every single one of us in our jobs, our families and our homes.

And when the situation looked hopeless, city employees and Phoenix residents were willing to do their part to ensure our community made it through. City employees took the hit by way of salary freezes, budget cuts, lower pay or fewer resources to get the job done. Residents paid fees for community centers, endured decreased library hours and helped the city with vital programs like painting out graffiti to lessen the burden. But we dug in as a team, worked hard and became part of the solution, because that is the Phoenix way.

We weren't going to lose that AAA bond rating, and the city's dedication doesn't stop there.

Even though Phoenix has a surplus this year, we recognize pension reform is not only necessary, but it is also the right thing to do. It is sound fiscal management to keep the city strong and to push our economy forward as we start to move out of the recession. New unemployment numbers put Phoenix at 7.8 percent, below the national average of 8.3 percent. The housing market is up. But we're not out of this yet, and in order to see Phoenix's economy truly rise out of this recession, we have to start out on the right fiscal path.

Pension reform is part of the new, stable footing and sound fiscal policies we need to build a strong future.

Combine this with strong public-private partnerships with small and local businesses and plans to sustain our desert city, and we can see Phoenix grow over the next several decades to reinvent and innovate what it means to be a great American city.

Greg Stanton is mayor of Phoenix. Tom Simplot and Daniel Valenzuela are Phoenix City Council members.